Outside Counsel vs. Corporate Counsel: Who is Driving Legal Tech Adoption?
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Allegory Law - Alma Asay Darwin Talk for Evolve Law Jan 2017
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Outside Counsel vs. Corporate Counsel: Who is Driving Legal Tech Adoption?
- 1. Outside Counsel vs. Corporate Counsel: Who is Driving Legal Tech Adoption? Alma Asay, Founder & CEO @AllegoryLaw Smart Software for Smart Litigation
- 2. “In 2016, for the eighth year running, Chief Legal Officers rated law firms at a median three on a zero to ten scale in which zero equals ‘not at all serious’ about change and ten equals ‘doing everything they can.’” - Altman Weil, Chief Legal Officer Survey (2016) Alma Asay Founder & CEO @AllegoryLaw
- 3. Top two reasons that law firms aren't doing more to change the way they deliver legal services: Alma Asay Founder & CEO @AllegoryLaw Partners resist change efforts. Clients aren't asking for it. - Altman Weil, Law Firms in Transition (2016)
- 4. Alma Asay Founder & CEO @AllegoryLaw The Outside vs. Corporate Counsel Tug of War: Fees vs. Services Law Firms deliver: Reduced rates, but no change to legal service delivery model Clients expect: More services for lower fees
- 5. Why aren’t clients asking for changes? 34.1% Focused on prices and outcomes, rather than the service delivery model. Alma Asay Founder & CEO @AllegoryLaw 11.7%: Instead, used firms less or dropped firms because of unsatisfactory service delivery. 9.1%: Believe law firms should act proactively to improve. - Altman Weil, Chief Legal Officer Survey (2016)
- 6. Alma Asay Founder & CEO @AllegoryLaw Option A: If Law Firm A can’t deliver, go with Law Firm B . . . “We see a 7-year trend of compelling success enjoyed by firms that take a proactive approach to alternative fee arrangements.” - Altman Weil, Law Firms in Transition (2016)
- 7. Alma Asay Founder & CEO @AllegoryLaw Option B: Corporate Counsel will do it themselves . . . “54% of Chief Legal Officers said moving legal work in-house would be the primary method for reducing spend.” - Mitratech, Catching the Wave (2016)
- 8. If you’re waiting for Option C . . . “[M]ost legal departments provide minimal guidance and direction to traditional law firms.” - Jeffrey D. Paquin, former chief counsel, legal operations, at General Motors LLC Alma Asay Founder & CEO @AllegoryLaw
- 9. Alma Asay Founder & CEO @AllegoryLaw Driving adoption within Law Firms: Overcome partners’ resistance by demonstrating how they can succeed where other lawyers are losing business.
- 10. Alma Asay Founder & CEO @AllegoryLaw Driving adoption by Corporate Counsel: Demonstrate value by enabling them to take more control over legal processes, thereby managing costs.
- 11. Outside Counsel vs. Corporate Counsel: Who is Driving Legal Tech Adoption? Alma Asay, Founder & CEO @AllegoryLaw Smart Software for Smart Litigation
Editor's Notes
- According to the 2016 Atlman Weil Flash Survey: Law Firms in Transition, the top two reasons that law firms aren't doing more to change the way they deliver legal services are (1) partners resist most change efforts, and (2) clients aren't asking for it. Such resistance, on both sides, flies in the face of evidence showing that, for law firms, those that take a proactive approach to alternative legal services demonstrate compelling success, and, for corporate counsel, there is more pressure than ever before to cut outside legal budgets. If neither side is driving change, then how does innovation in the law happen? This talk will address specific - often, counter-intuitive - obstacles to legal tech adoption, and propose solutions for how legal tech innovators can successfully bring both sides together to drive change.
- “Only 4.8% of law firms expressed a high level of seriousness about changing their legal service delivery model to provide greater value to clients (as opposed to simply reducing rates). “ – Altman Weil, Law Firms in Transition “79% of those surveyed in Exterro’s 2016 Law Firm Benchmarking Report stated that client expectations have elevated (i.e. clients expect more services for lower fees).”
- According to the 2016 Atlman Weil Flash Survey: Law Firms in Transition, the top two reasons that law firms aren't doing more to change the way they deliver legal services are (1) partners resist most change efforts, and (2) clients aren't asking for it. Such resistance, on both sides, flies in the face of evidence showing that, for law firms, those that take a proactive approach to alternative legal services demonstrate compelling success, and, for corporate counsel, there is more pressure than ever before to cut outside legal budgets. If neither side is driving change, then how does innovation in the law happen? This talk will address specific - often, counter-intuitive - obstacles to legal tech adoption, and propose solutions for how legal tech innovators can successfully bring both sides together to drive change.